Crypto Wallet Provider Ledger Opens New Office In New York

Crypto wallet provider Ledger is setting up a new office in New York in order to expand its presence in the United States.

Founded in 2014, Ledger develops security and infrastructure solutions for cryptocurrencies as well as blockchain applications for individuals and companies, by leveraging a distinctive, proprietary technology. The company’s products include the Ledger hardware wallet line, which has already sold in nearly 170 countries.

The New York office will be the headquarter for the business operation of Ledger Vault, a self-custody solution for managing crypto assets that uses multi-autorizations, which will serve as a business security option for financial institutions.

Demetrios Skalkotos, a former Intercontinental Exchange (ICE) executive, has been appointed to lead global business unit operations for Ledger Vault. He will bring decades of experience in “running global software and infrastructure businesses, as well as P&L’s, product development, sales and marketing” to Ledger.

“New York City is the center of the financial world, hence having our Ledger Vault operations based in the region was a natural fit,” said Pascal Gauthier, President of Ledger. “Having spent his whole career working as a leader in enterprise and financial services products, Demetrios Skalkotos is the perfect candidate to bring Ledger Vault to life and oversee its continued growth.”

Ledger Vault offers cutting-edge security by combining the company’s self-made OS, BOLOS, with the hardware security module chip, making it the only cryptocurrency protection company to integrate a Secure Element with its own custom OS. Ledger Vault allows asset managers, custodians and traditional financial services to trade and store their digital assets.

Skalkotos said that as blockchain revolutionizes the financial system, so must the security solutions that protect it.

“Secure storage of large multi-cryptocurrency funds is a highly complex challenge that cannot be solved by just implementing procedures,” Skalkotos said. “Institutions are looking for safer storage options along with integrated governance policies, but don’t want to sacrifice convenience — at Ledger, we believe that investors shouldn’t have to compromise. The Ledger Vault provides financial institutions, family offices and fund managers with a secure solution and a reliable governance framework — allowing investors total control and security without sacrificing speed.”